The Bretton Woods system worked fairly well for a number of years, but it finally broke down over
A. lack of agreement on how to settle the problems of the surplus nations.
B. its inability to devalue the U.S. dollar.
C. the huge debts of the IMF to less-developed countries.
D. the controversies generated by surplus nations wanting to devalue their currencies.
Answer: B
Economics
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A contestable market is one where:
A. there are infinitely many firms. B. entry necessarily occurs. C. there is the legitimate threat of entry. D. firms can maintain the monopoly price.
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